The Philadelphia Semiconductor Index has plummeted, with some reports indicating a drop of over 9% in two days, while others suggest an 11% slide. This decline has led to the index entering a bear market, with various chip stocks, including TSMC and SK Hynix, experiencing significant losses. The sell-off appears to be part of a broader market downturn, with other indices, such as the Kospi, also experiencing sharp declines.